MelodieWarner

As earnings beat expectations, the company raised its full-year adjusted earnings estimate to $5.42 to $5.45 a share from its August forecast of $5.29 to $5.34.

But it lowered its sales outlook for the current quarter, pointing to weakness in its European wholesale business. It now expects about 12% sales growth, down from its August projection of about 16%. It also forecast earnings between $2.26 and $2.29 a share, while analysts surveyed by Thomson Reuters were expecting $2.27.

Fossil, which designs watches, jewelry, handbags, belts and clothing, has seen increased sales for three years, aided by its expansion in Asia. But sales in Europe have been slowing of late amid the European debt crisis.

Fossil reported a profit of $76.8 million, or $1.26 a share, up from $69.6 million, or $1.09 a share, a year earlier. Excluding acquisition costs and other items, per-share earnings were $1.28. Sales jumped 6.4% to $684.2 million.

Its August projection was for adjusted earnings of $1.15 to $1.17 a share on 11% sales growth, below analysts views at the time.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.